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JVCo to invest USD 50 million in next five years
Apollo Logisolutions Limited (ALS) and Pacific International Lines (Pte) Ltd (PIL) have signed two Memorandum of Understanding (MoUs) to explore logistics opportunities in India.
First MoU between ALS and PIL is for mutual cooperation in container freight station & allied services whereas second MoU between ALS and Singamas (subsidiary of PIL) is to jointly pursue transportation of specialized liquids in India.
The MoU signed with PIL will enhance logistic services relating to container freight station, inland container depots, freight forwarding, custom brokerage, 3PL, warehousing and allied services.
The scope of the partnership with Singamas will include movement of all types of non-POL liquids either by rail or road, operation and management of movement of liquid tanks, their maintenance and cleaning.
The timeline of the MoUs will be five years, during the course of which an investment of USD 50 million has been embarked upon. The partnership will provide an excellent opportunity to promote bilateral trade between the two countries and will also help the Indian logistics provider build strong network with their counterparts and showcase their abilities.
Talking about the MoUs, Raaja Kanwar, Managing Director, ALS said, “Today ALS has emerged as a challenging player in the fragmented logistics industry providing end to end logistics services through its strong global network spread across multiple locations. PIL being a leader in shipping, container manufacturing and other logistics related services, we aim to drive synergies across verticals through this partnership to provide optimum solution to the industry.”
Mr. S S Teo, Managing Director of PIL said “We are extremely happy to join hands with ALS, a strong player in this segment in India and globally. I am confident that through this partnership ALS, PIL and Singamas will be able to exchange the state of the art technologies and expertise which will benefit all the companies in this sector in the long run.”
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